This paper first uses the solitary wave theory to analyzes the economic effect of population aging struc-tural changes. The results show that the the previous fertility peak and valley will eventually be converted to a series of solitary waves, such as those of birth, education, employment and aging, which has a far-reaching impact on the economic variables such as the savings rate, the rate of investment in education and pension expenditure. This article builds a general equilibrium overlapping generation model which contains the endogenous variables of retirement sav-ings, family investment in education, inter-generational transfer and life expectancy. Through the numerical simula-tion, it finds that under the current fertility level, the effect of prolonged life expectancy on the rate of family educa-tion investment, retirement savings and economic growth rate is non-monotonic. People with rational behavior show more recognition on the"investment"property of children than the"consumer goods" property,which lead to the con-tinuously high rate of family education investment and pension savings. Asthe inflection point of the non-monotonic growth path comes relatively early,the high savings rate is not conducive to economic growth.%本文首先利用孤波理论分析了人口年龄结构变化所产生的经济效应，结果发现前期生育率的高峰和低谷必会转化为当下的出生波、教育波、就业波、老龄波等一系列社会孤波，对储蓄率、教育投资率、养老支出等经济变量造成深远影响。然后建立了一个包含养老储蓄、家庭教育投资、代际转移支付和预期寿命内生化的一般均衡世代交叠模型，通过数值模拟发现，在当前生育率水平下，预期寿命延长对家庭教育投资率、养老储蓄率和经济增长率的影响是非单调性的。理性行为人对子女“投资品”属性的认可程度超过“消费品“属性，导致家庭教育投资率和养老储蓄率居高不下。由于非单调性经济增长路径的拐点来得相对较早，高储蓄率不利于经济增长。
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